Budget




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Projected Budget Estimate

Following are three projected budget estimates. The first was prepared by the Wolfe County Monument Advisory Board (Feb 06) based on revisions to the original Certec, Inc, budget found in the Economic Impact / Feasibility Study to reflect the current status of the project. The second is the original Certec, Inc budget estimate. The third was prepared by John L. Carman and Associates, Architects, Lexington, KY.

The Executive Board accepts the figure of $13.25 million as a reasonable estimate.



Construction Estimate for

The Eastern Kentucky Heritage Monument

Wolfe County Monument Advisory Board

Estimate compiled by the Wolfe County Monument Advisory Board incorporating the original numbers generated by Certec, Inc, Lexington, KY, in their Economic Impact / Feasibility Study for the Eastern Kentucky Heritage Monument. These numbers reflect the current scope of the project which includes the adjacent land necessary for parking.

Item Notes Cost
Land 100 acres at $5,000 per acre $500,000
Site Preparation   $100,000
Visitor Center- 10,000 sq ft Interior/exterior. High tech systems. Size of indoor theater to be added to dimensions. $4,500,000
Indoor Theater 180 - 250 seats $1,500,000
Utilities/Landscaping/Lighting   $250,000
Access Road/Parking/Signage   $750,000
Amphitheater   $100,000
Nature Trail/Landscaping   $250,000
Monument Site Instrument fabrication, materials, viewing platform, etc. $5,000,000
Architectural/Engineering/Scientific fees   $200,000
Initial General Development /Admin/Grant writing   $80,000
     
  TOTAL $13,230,000




Initial Projected Budget

Welcome / Information Center


Following is the original projected budget. As it turns out, it was a bit low. But please remember that The Eastern Kentucky Heritage Monument is a grassroots initiative. We have learned a great deal. The important thing is that it must be done correctly.

Site Preparation

$100,000

Land 30 acres @ $10,000 per acre

$300,000

Administration (salaries, office, etc)

$125,000

Architecture Fees

$30,000

Engineering Fees

$30,000

Utilities / Access Road

$250,000

Parking, Landscaping, Lighting

$200,000

Trail

$200,000

Signage

$20,000

Web Design / Web Master / Upkeep

$47,500

Amphitheater

$100,000

10,000 sq. foot Interpretive/Welcome Center

$1,250,000

Technical displays / Computer Kiosks

$70,000

Environmental Impact Study

$8,000

Architectural Renderings/Graphics

$5,000

Printing / Office supplies / Postage

$5,000

Project Planning and Design

$32,000

Total- Visitor Info Center $ 2,772,500





Initial Projected Budget

Monument Site


Architecture Fees $40,000
Engineering Fees $40,000
Specialists / Consultants / Experts Fees $40,000
Artists Fees / Consultants $225,000
Construction / Materials / Labor $2,500,000
Landscaping $70,000
Partially underground rest rooms $40,000
Viewing Platform $250,000
Total - Monument site $3,205,000
Total - Visitor Info Center $2,772,500
Grand Total $ 5,977,500






Construction Estimate for

Eastern Kentucky Heritage Monument

John L. Carman and Associates


Phase B –Estimate of Probable Construction Cost for Site Development     Feb 02, 2006

Eastern Kentucky Heritage Monument

JLC Project #05-107


Subtotal: Site survey, layout, demolition, testing, quality control, excavation, grading, erosion control, utilities, asphalt, concrete, site accessories, landscape, outdoor amphitheater, 10,000 SF visitor center, Monument Site.  Specific details available. $13,567,822.80
Work Item Unit Unit Cost Quantity Extension
Contractor overhead and profit 0.12     $1,628,138.74
Prevailing wage rate increase 0.12     $1,823,515.38
Contingency 0.15     $ 2,035,173.42
Architectural/Engineering Fees 0.075     $ 1,017,586.71
Land Acquisition acre $5,000.00 100 $500,000
         
Estimated Probable Construction Cost Total       $ 20,572,237.05

The primary difference in the above estimate from the Monument Advisory Board estimate is that the contractor overhead and profit, prevailing wage rate increase, contingency, and architectural/engineering fees were figured separately by John L. Carman and Associates and added to the estimate of the construction costs. The construction costs by Carman were in line with the Monument Advisory Board estimate. The costs added by Carman were included in the general categories of the Advisory Board estimate. Both estimates are higher than the original projected budget. However, the goal is to produce a "World Class" venue.